RESULTS
4TH QUARTER AND FINANCIAL YEAR 2016/17

1 APRIL 2016 TO 31 MARCH 201723 May 2017

Agenda1. LEM at a Glance

François Gabella

2. Highlights and Business Review

François Gabella

3. Financial Review

Andrea Borla

4. Strategy and Outlook

François Gabella

5. Proposals to Shareholders

Andreas Hürlimann

HOY / HOYA

2

Results 4th quarter and financial year 2016/17

1. Global Market Leader in Current and Voltage Transducers
Market Position

Performance

Perspectives

LEHN

SMI

Source: Swissquote

•

•

•

•

3

Global market shareof 50+% in Industry
Benchmark inservice and productquality
4 production sites
and 4 R&D centersin Europe and Asia
Sales of CHF 264.5
million in 2016/17

•

•

•

Market capitalizationof CHF 1.1 billion
Dividend yield >3.5%
in each year since
2009Continued sales
growth and strong
margins

Results 4th quarter and financial year 2016/17

•

•

•

Reinforced investment in innovation
Solid growth perspectives due tounderlying trends
Strong foothold in
China

1. Application: Mild Hybrid Car
Mild hybrids are internal combustion engines
equipped with an electric drive. They employ
regenerative brake and some level of power
assist to the internal combustion engine.

1
2
3
B

6
5

4
8

7
A
A HSN

1 AC/DC converter
2 Lithium-ion battery
3 Battery controller
4 DC/DC converter
5 12-volt battery

6 12-volt electrical distribution center
7 Electric motor/generator
8 Electric supercharger
4

Mild hybrids provide the benefits of hybrid
technologies, with less of the cost–weightpenalty of a full hybrid series-parallel
drivetrain.
In electrical mode, LEM’s HSN families
control the power transmitted by the inverterto the electrical motor. CAB families monitor
the transfer of the generated energy to thebattery pack while driving and braking with
best-in-class accuracy. LEM’s transducers
are compact, easy to integrate and theirsuperior accuracy allows the system tocontribute to reduce vehicle emission andimproves the hybrid car’s electrical range.

B CAB
Results 4th quarter and financial year 2016/17

1. Application: Smart Grid Medium Voltage Line Monitoring

4
5

3

1
A

2

With new Internet of Things telecom
networks, monitoring overhead power lines ismade possible. Thanks to an ammeter,
installed between two poles, the grid operator
can visualize in real-time the current flow inorder to optimize the power line capacity to
distribute more electricity.
The wireless ammeter sends data over atelecom relay to a secured database in thecloud. The energy management platform canregulate, alert and notify the maintenanceteam if needed.

A ART
1 Ammeter
2 MV power line
3 Telecom relay
4 Cloud and database

The ammeter uses the rogowski coil ART tomeasure the current, detects line aging
depending on the level of current, and helps
prioritizing line capacity and regular
maintenance.

5 Energy management

5

Results 4th quarter and financial year 2016/17

1. Application: CNC Milling-Turning 5-Axis Machine Toollinear Y-axis

linear X-axis
1

rotary B-axis

linear Z- axis

1

1

2
3
A

1

Producing mechanical parts is faster andmore profitable when using a 5-axis
machining center. In addition to the usual
linear X-axis, Y-axis, and Z-axis, two
additional axes are rotating. The B-axis
rotates around the Y-axis and the C-axis
around the Z-axis.

rotary C-axis

LEM transducers are key components inside
the inverter that controls the 5 electrical
motors driving the 5 axes. LEM’s LF 210 and
LF 310 measure the current that powers the
motors and generates their torque.

1

1 Motors
2 Inverter
3 Numeric control

6

A LF 210/310

The efficiency and quality of a CNC millingturning machine depends of its speed, its
accuracy and of the control quality of all its
axes. These high control performances areachieved thanks to the very high accuracy,
linearity, and low thermal drift of LEM's
transducers.

Results 4th quarter and financial year 2016/17

1. Application: Hybrid Solar Inverter with Battery Storage Inside
5
1
4
B

A

3

2

A HO
1 Photovoltaic panel
2 Battery
3 Hybrid inverter
4 MeterB ATO

Hybrid solar inverters store solar energy.
Every home that installs a battery storage
system will need an inverter to convert thestored DC electricity into an appliancefriendly AC electricity.
A hybrid inverter is an inverter that cansimultaneously manage inputs from bothsolar panels and a battery bank, charging
batteries with either solar panels or theelectricity grid, depending on which is more
economical or preferred.
LEM’s HO transducers control the charge/
discharge of current into the battery and the
ATO measures the total household
consumption allowing to decide when to
charge or discharge the battery. The HO
offers best-in-class accuracy. The ATO is anattachable current transducer. It is simple toinstall and provides 1%-accuracy.

5 Grid7

Results 4th quarter and financial year 2016/17

1. Diverse Target Markets – Diversified Businesses

Businesses

Share of sales
Cyclicality
2016/17

Green Cars
Conventional Cars

19%

Consumer durables Technology adoption (electrification)
Fuel savings

High precision
Traction
Renewable energies& power supplies

Late cycle

Infrastructure investments

Mid cycle

Energy prices, subsidies

Early cycle

Industrial investment

81%

Drives & welding

Automotive segment
Industry segment
8

Macro drivers

Results 4th quarter and financial year 2016/17

Agenda1. LEM at a Glance

François Gabella

2. Highlights and Business Review François Gabella
3. Financial Review

Andrea Borla

4. Strategy and Outlook

François Gabella

5. Proposals to Shareholders

Andreas Hürlimann

ATO

9Results 4th quarter and financial year 2016/17

2. Leading Market Position and Strong Profitability
In CHF millions, %2016/172016/17 vs.
2015/16

Q4 2016/17 vs.
Q4 2015/16

Orders

271.2

+5.7%

+14.2%

Sales

264.5

+1.2%

+6.4%

EBIT

55.8

+5.4%

+14.8%Net profit

44.6

+2.5%

-1.0%

• Stable Group sales, but mixed underlying trends

•
•
•
•
10

By business

By regions+

Drives & welding, green cars

North America, rest of Asia-

Traction, renewable energies

China, Europe

Maintained strong profitability and cash flow
Thorough implementation of strategy with focus on innovation
Employee survey points out strong job satisfaction / pride to work for LEM
Customer survey confirmed high level of satisfaction
Results 4th quarter and financial year 2016/17

2. Product Launches 2016/17 (1/3)
GHS

GO

ART

11

• Integrated primary sensor in SO8 IC packaging;surface mounted• Package and magnetic coupling innovations• High immunity against external fields• For low power drives in solar applications• Integrated primary sensors in SO8 and SO16 IC
packaging; surface mounted• Optimum temperature accuracy,
fast response time
• High immunity against external fields• For low power drives and solar applications• LEM patented Rogowski loop technology• Accuracy class 1 and 0.5 without calibration, rated
insulation voltage 1 kV CATIII, electrostatic shield, IP 67• Flexible, thin, split-core• For smart grid applications
Results 4th quarter and financial year 2016/17

Industry

Industry

Industry2. Product Launches 2016/17 (2/3)
HO, HLSR digital
•
•
•
•
•

Digital output designs
Sigma-delta modulated-output
CMOS single-ended
RS422 Manchester coded
12 bits effective resolution

•
•
•
•
•

Embedded software: digital signal processing
Patented Fluxgate technology
Very low noise and high accuracy
Large temperature range in a compact size
For high precision applications

Industry

IN 2000-S

12

Results 4th quarter and financial year 2016/17

Industry2. Product Launches 2016/17 (3/3)
LH

•
•
•
•

Proprietary ASIC for Closed Loop Hall Effect technology
High performance, matching fluxgate performanceHigh performance in broad temperature range
Designed for drives and solar markets

•
•
•
•
•

LEM patented insulating digital technology
Improved accuracy and temperature stability
Industry
30 % lower profile - 25 % less volume - 54 % lighter
DVM-DT: Voltage detector
Low sensitivity to magnetic fields for traction applications

•
•
•
•

2-phase motor control sensor
High accuracy and speed
Small, compact, light, easy to integrate
Customer specific product for hybrid-electric vehicles

Industry

DVM, DVM-DT

HAH2

13

Results 4th quarter and financial year 2016/17

Automotive

2. Net Sales
In CHF millions

In CHF millions, %

300

YoY

Sales

as
reported275

Q4 vs.
at
Q4
constant
currencies

250

Industry

214.3

-0.4%

-0.4%

+8.0%

225

Automotive

50.2

+8.5%

+7.5%

-0.2%

200

Total

264.5

+1.2%

+1.0%

+6.4%

175

•

150

125

•
•

100
75

Recovery in Industry business in the courseof the year with new momentum in Q4
Important regional differences
Little currency impact on sales

50
25
0

14

12/13

13/14

14/15

15/16

16/17

Results 4th quarter and financial year 2016/17

2. Quarterly View
In CHF millions

Book-to-bill ratio

80

1.2
70.0

70
60

67.2

66.9

65.7

65.1

66.8
1.0

62.7

61.5

0.8

50
40

0.6

30

0.4

20
0.2

10
0

Q1
15/16

Q2
15/16

Q3
15/16

Q4
15/16

Orders received (left-hand scale)Book-to-Bill ratio (right-hand scale)

15

Q1
16/17

Q2
16/17

Q3
16/17

Q4
16/17

Sales (left-hand scale)

Results 4th quarter and financial year 2016/17

0.0• Book-to-bill ratio
increased to 1.07 in
Q4 of 16/17• Improving book-to-billratio pointing to
improving market
conditions• Shrinking inventories atcustomers translating
into short-term bookings

2. Industry Segment: Business Development
In CHF millions

EBIT in % of sales

240

25%

200

20%

160
15%
120
10%
80

5%

40

0

16

12/13

13/14

14/15

15/16

16/17

0%

Businesses and Applications
Drives & welding (growth YoY: +10%)• Sales growth across all regions• Better market environment in Germany andUSA, positive signals from China• Won market share thanks to new products
Renewable energies & power supplies (-8%)• Consolidation in the Chinese solar panel/ inverter market; China dominates the industry• Investment driven by local political decisions
resulting in volatile sales development
Traction (-10%)• Lower rail infrastructure investments globally• Delayed investments in Chinese high speed
trains and export projects
High-precision (-10%)• Growth in Chinese, US medical applications
and test & measurement in Japan• HVDC projects in China completed; no followup projects

Results 4th quarter and financial year 2016/17

2. Industry Segment: Regional Markets
In CHF millions, %Sales

GrowthYoY

GrowthQ4 vs. Q4

Europe

84.1

-4.2%

+1.0%

N. America

26.8+10.6%+11.2%

Asia and
ROW

103.4

+0.2%

+14.3%

Total

214.3

-0.4%

+8.0%

EuropeNorth America
Asia and ROW

39%

48%

13%

17

• Sales in China and most of Europe
slowed• Strong recovery in North America andrest of Asia
• China the single most important country
representing 30% of sales

Results 4th quarter and financial year 2016/17

2. Automotive Segment: Business Development
In CHF millions

EBIT in % of sales

60

25%

50

20%

40
15%
30
10%
20

18

Conventional cars (YoY: -5%)
• Weaker US market linked to technology
changeGreen cars (HEV, EV) (+41%)• Growth slower than expected in second halfof 2016/17• Reduction of government subsidies in China
resulted in slowing growth rates• Increasing consumer acceptance andgovernment support globally for green cars tounderpin future growth• Increasing attractiveness of the market lures
new competitors

5%

10

0

Businesses and Applications

12/13

13/14

14/15

15/16

16/17

0%

Results 4th quarter and financial year 2016/17

2. Automotive Segment: Regional Markets
In CHF millions, %Sales

GrowthYoY

GrowthQ4 vs. Q4

Europe4.1+15.9%+0.7%

N. America

19.6

-3.7%

-0.5%

Asia andRoW

26.5+18.4%

-0.1%

Total

50.2

+8.5%

-0.2%

EuropeNorth America

8%Asia and ROW

•

53%

•
39%

19

•

Performance driven by growth of green
cars business across all regions
Won 2 awards from customer for
overall performance
Participated in several green car shows

Results 4th quarter and financial year 2016/17

2. Business Development Bulgaria
Production•••

17 production lines
245 FTE
Increased surface by 20%

In CHF millions
40

Objectives of the site
•
•
•
•

•

20

Diversify LEM’s cost-competitive
production
Increase production capacity close toEuropean customers
Increase natural hedge of operations
Absorb major part of LEM’s future
growthDevelop shared services for LEM Groupand build a local development team

+54.4%

30

20

10

0

Results 4th quarter and financial year 2016/17

13/14

14/15

15/16

16/17

2. Business Development China
Sales

Production•••

Market share of over 50%
Most important market with 30% of
total sales

LEM China is the largest manufacturingsite of the Group: 59% of total
production (64% in financial year
2015/16)“Made by LEM” quality•
In CHF millions

In CHF millions

90

180

80

160

70

140

60

120

50

100

40

80

30

60

20

40

10

20

0

21

0
12/13

13/14

14/15

15/16

16/17

12/13

Results 4th quarter and financial year 2016/17

13/14

14/15

15/16

16/17

Agenda1. LEM at a Glance

François Gabella

2. Highlights and Business Review

François Gabella

3. Financial Review

Andrea Borla

4. Strategy and Outlook

François Gabella

5. Proposals to Shareholders

Andreas Hürlimann

HLSR

22

Results 4th quarter and financial year 2016/17

3. Financial Highlights• Robust profitability• Gross margin of 46.7%, up from 46.0%• EBIT margin of 21.1%, up from 20.2%• Net profit of CHF 44.6 million, up from CHF 43.5 million• Strong balance sheet with equity ratio of 60.7%• Operating cash flow of CHF 52.8 million, up from CHF 45.6 million• Increased investment in innovation

23

Results 4th quarter and financial year 2016/17

3. Balance Sheet Analysis

31.3.201631.3.2017

Net working capital

42.3

40.6

Fixed assets

39.4

44.4

Noncurrent liabilities

-9.4

-7.4

Net operating assets

72.3

77.7

Net cash / (debt)

13.6

12.8

Equity

85.9

90.5

61.3%

60.7%

Days of sales outstanding

69

71

Days of inventory outstanding

72

79

Days of payables outstanding

45

55

In CHF millions

Equity ratio

24

Results 4th quarter and financial year 2016/17

3. Income Statement
In CHF millions

25

2015/162016/17

ChangeQ4
2015/16

Q4
2016/17

Change

Sales

261.5

264.5

+1.2%

62.7

66.8

+6.4%

Gross margin

46.0%

46.7%

+0.7pt

45.5%

45.9%

+0.3ptOperating expense

-67.5

-67.8

+0.5%

-16.3

-16.5

+1.5%

EBIT

52.9

55.8

+5.4%

12.3

14.1

+14.8%Net financial exp.

0.7

-0.8

NM

1.6

-0.0

NM

Income tax

-10.2

-10.4

+2.4%

-1.8

-2.2

+19.5%Net profit

43.5

44.6

+2.5%

12.0

11.9

-1.0%

Results 4th quarter and financial year 2016/17

3. Results by Quarter
In % of sales
26%
24%
22%
20%
18%
16%
14%
12%
10%

Q1
14/15

Q2
14/15

Q3
14/15

Q4
14/15

Q1
15/16

EBIT margin

26

Q2
15/16

Q3
15/16

Q4
15/16

Q1
16/17

Net Profit in % of sales

Results 4th quarter and financial year 2016/17

Q2
16/17

Q3
16/17

Q4
16/17

3. Gross Margin
In CHF millions

In % of sales

140

2015/162016/17

Q4
2015/16

Q4
2016/17Gross margin

120.4

123.6

28.6

30.6

Gross margin

46.0%

46.7%

45.5%

45.9%

48%
47%

in CHF millions

120
46%
100

in % of sales

45%
44%

80

43%
60

•

42%
41%

40

•

Positive impacts on gross margin due toefficiency improvements and foreignexchange development
Continuous price pressure

40%
20
39%
0

12/13*

13/14

14/15

15/16

16/17

38%

* Restatement following IAS 19R application (pensions)

27

Results 4th quarter and financial year 2016/17

3. SG&A
In CHF millions

In % of sales

60

25%

2015/162016/17

Q4
2015/16

Q4
2016/17

SG&A

52.9

51.8

12.6

12.3

SG&A

20.2%

19.6%

20.0%

18.5%

in CHF millions
50

20%

in % of sales

40
15%

•

30
10%
20

5%

10

0

•

Cost savings thanks to process
improvements and cost control
Ongoing recruitment in Beijing and Sofia;
Group headcount increased to 1 453 FTE

12/13*

13/14

14/15

15/16

16/17

0%

* Restatement following IAS 19R application (pensions)

28

Results 4th quarter and financial year 2016/17

3. R&D Expense
In CHF millions

In % of sales

18
16

6%

2016/17

Q4
2015/16

Q4
2016/17

R&D
expense

14.6

16.0

3.7

4.2

R&D
expense

5.6%

6.1%

5.9%

6.3%

in CHF millions

14
5%
12

in % of sales
4%

10
8

3%

•
•

6
2%
4
1%

2
0

2015/167%

12/13*

13/14

14/15

15/16

16/17

•

Ongoing renewal of product range
Acquire new technologies to address
new markets
Increase investment in R&D for bothsegment with start of new R&D centerin Lyon in April 20170%

* Restatement following IAS 19R application (pensions)

29

Results 4th quarter and financial year 2016/17

3. Financial Expense
In CHF millions

30

Q4
2015/16

Q4
2016/17

-0.6

+1.6

+0.0

-0.2

-0.1

-0.0

-0.1

+0.7

-0.8

+1.6

-0.0

2015/162016/17

Exchange effect+1.0

Other financial expense &incomeTotal•

Exchange effect impacted by negative valuation of USD and EUR currency
hedges•Foreign exchange hedging policy unchanged for EUR, USD and JPY•

Interest expenses below last year, due to more rapid pay-back of third party
debts (dividend payments)

Results 4th quarter and financial year 2016/17

3. Income Taxes

2015/1631

2016/17

Expected income tax rate
Expected withholding tax rate

17.8%
1.6%

16.6%
1.2%

Expected tax rate

19.3%

17.8%

Other differences

-0.4%

+1.2%

Effective tax rate

18.9%

18.9%

Results 4th quarter and financial year 2016/17

3. Net Profit
In CHF millions

In % of sales

50

20%

45

18%

40

16%

35

14%

30

12%

25

10%

20

8%

15

6%

10

4%

5

2%

0

12/13*

13/14

14/15

15/16

16/17

2015/162016/17

Q4
2015/16

Q4
2016/17

Net profit

43.5

44.6

12.0

11.9

Net profit

16.6%

16.8%

19.1%

17.8%

in CHF millions
in % of sales

-10.2
52.9

EBIT

43.5

Financial expense

Income tax

Net profit

2016/17
-0.8
-10.4
55.8

44.6

0%
EBIT

* Restatement following IAS 19R application (pensions)32

2015/16+0.7

Results 4th quarter and financial year 2016/17

Financial expense

Income tax

Net profit

3. Cash Flow Statement
In CHF millions

33

2015/162016/17

Profit before taxes

53.7

55.0

Adjustment for noncash items and taxes paid

-7.8

-2.8

Cash flow from changes in net working capital

-0.2

+0.7

Cash flow from operating activities

45.6

52.8

Cash flow from investing activities

-6.6

-13.2

Free cash flow

39.0

39.6

Cash flow from financing activities

-45.9

-40.3

Change in cash and cash equivalents

-6.9

-0.7

Cash and cash equivalents at the end of the period

13.6

12.8

Results 4th quarter and financial year 2016/17

Agenda1. LEM at a Glance

François Gabella

2. Highlights and Business Review François Gabella
3. Financial Review

Andrea Borla

4. Strategy and Outlook

François Gabella

5. Proposals to Shareholders

Andreas Hürlimann

HAM

34

Results 4th quarter and financial year 2016/17

4. Market Factors and Strategy• We firmly believe in our strategic
direction and the 4 drivers for ourbusiness remain unchanged• We will continue to capitalize on
the drivers of LEM’s markets
through• pure play components company• diversification across geographiesand businesses

35

Results 4th quarter and financial year 2016/17

4. LEM Perceived as the Global Leader in Providing
Transducers to Measure Electrical Parameters2016 customer satisfaction survey in all territories
What our customers say:
• LEM’s new products enable customers to improve the performance of
their products thanks to better functionalities, accuracy and digitalcommunication• LEM’s product portfolio is comprehensive (“I get all I need”)• Quality of LEM products highly rated: positive perception of in terms of
reliability, quality and performance• LEM understands customers' requests and expectations, both from acommercial and a technical perspective

36

Results 4th quarter and financial year 2016/17

4. Employees Strongly Committed and Proud to Work for LEM
2016 global employee engagement survey
What our employees say:
• Employees are highly satisfied with their job at LEM• There is a high level of understanding and identification with LEM’s
strategy• Teams are working effectively and are focused on customer satisfaction• LEM values are understood and implemented everywhere
As a conclusion, the survey finds that the employee engagement is at aconstant high level around the world

37

Results 4th quarter and financial year 2016/17

4. Executing Strategy: Increase Technology Leadership
Product launches

Key strategic initiative

14

■

12

1

10

■
■

2

Reinforce multidisciplinary innovation
team
Increase number of product launches
Constantly improve performance of
products

8
6

3

2

9

4
2
0

5

12/13

2

11

■

4

13/14

14/15

■
■

6

Industry38

Achievements 2016/17

15/16

Launched 12 new products
Increased focus on new technologies
Decision taken to further increase
investment in R&D

16/17

Automotive

Results 4th quarter and financial year 2016/17

4. Executing Strategy: R&D Centers
Geneva, Switzerland• R&D hub• Industry and Automotive
Lyon, France• Newly established R&D center• Focus on new technologies in Industry and Automotive• Operational since 1 April 2017

Beijing, China• Operations support• Enhancing capacities and competencies• Industry and Automotive
Sofia, Bulgaria• Operations support• Enhancing capacities and competencies• Industry

39

Results 4th quarter and financial year 2016/17

4. Executing Strategy: Increase Efficiency of Operations
Gross Margin in % of Sales48%

Key strategic initiative
•

46%
44%

•

42%
40%
38%

•
07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17

Achievements 2016/17

SG&A in % of Sales

•

24%
22%

•
•
•
•

20%
18%

16%

40

Reduce product cost through costcompetitive sourcing andmanufacturing
Reduce cost of marketing,administration and R&D
Reduce complexity of organization

07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17

Increased production in cost effective
sites to 77 % of total sales
Grew work floors in Sofia and Beijing
Constant productivity increases
Develop shared services in Sofia
Administration productivity increasing
through ERP optimization

Results 4th quarter and financial year 2016/17

4. Executing Strategy: Increase Production Flexibility
Key strategic initiative■

Develop systems to better forecast demand fluctuations■

Improve supply chain management

Achievements 2016/17

41■

Maintained high delivery performance■

Added production capacity for successful products■

Initiated program to reduce lead times for complex products■

Adapted people development program

Results 4th quarter and financial year 2016/17

4. Outlook42•

For 2017/18 we see:
• Encouraging economic signals in our most important regions• Positive momentum in the Industry business• Continued growth in the green cars business to overcompensate slowing conventional cars business•

Increased investment in R&D and production capacities for new
products•

High number of product launches•

Ongoing adaptation of the international footprint of all activities

Results 4th quarter and financial year 2016/17

Agenda1. LEM at a Glance

François Gabella

2. Highlights and Business Review François Gabella
3. Financial Review

Andrea Borla

4. Strategy and Outlook

François Gabella

5. Proposals to Shareholders

Andreas Hürlimann

PCM

43

Results 4th quarter and financial year 2016/17

5. Dividend Proposal

40

•

40

40.1
37.9

39.1

35

38.2

35

30
•

28.5

•
•
•
12/13

13/14
Dividend

*

44

14/15

15/16

16/17*

Dividend policy of distributing
significantly more than 50% ofconsolidated net profit toshareholders
Ordinary dividend of CHF 35 pershare proposed
Payment corresponds to apayout ratio of 89.4%
Represents a dividend yield of
3.75% (as per 31 March 2017)
Sign of trust in the Company’s
futureEarnings per Share

Proposal to ordinary General Meeting of the Shareholders of 29 June 2017

Results 4th quarter and financial year 2016/17

5. Proposed New Board Member
Werner C. Weber• Dr. iur. University of Zurich, admitted as an attorney-at-law
in Zurich, Mediator SAV• Founding partner and Board member of weber schaub &partner ag• Board member of Arosa Bergbahnen AG, City Parkhaus
Aktiengesellschaft, Hof Maran Hotel AG, MedicoSearch AG,
Schilthornbahn AG, SkySmile AG, Wandilo Holding AG and
WEMACO Invest AG• Representative of LEM’s largest shareholder WEMACO
Invest AG• Age 57, Swiss citizen
45

Results 4th quarter and financial year 2016/17

Q&A

Shareholder Structure per 31 March 2017

Other
36.1%
Werner O. Weber andUeli Wampfler**
48.1%

LEM Board andManagement*
0.2%
SarasinInvestmentfonds AG
3.2%

47

Ruth Wertheimer / 7Industries Holding
12.4%

Results 4th quarter and financial year 2016/17* Excludes shareholdings of Ueli Wampfler** Opting out clause introduced in LEM’s articles
of incorporation by the shareholders' meeting on
25 June 2010

Financial Calendar and Contact Details

Financial calendar
The financial year runs from 1 April to 31 March

29 June 2017
4 July 2017
6 July 2017
3 August 2017
9 November 2017
8 February 201823 May 2018
28 June 2018
3 July 2018
5 July 2018

Annual General Meeting of Shareholders for the year 2016/17
Dividend ex-date
Dividend payment date
First quarter results 2017/18
Half-year results 2017/18
Third quarter results 2017/18
Year-end results 2017/18
Annual General Meeting of Shareholders for the year 2017/18
Dividend ex-date
Dividend payment date

For further information
Andrea Borla, CFO
Phone: +41 22 706 12 50
E-mail: investor@lem.com

48

Results 4th quarter and financial year 2016/17